Huobi Pro to Leave Japan

Currently 13.3 percent of the visitors on Huobi Pro come from Japan
27 June 2018   1593

The Huobi Pro cryptocurrency exchange will suspend the service of Japanese investors in next month. This is written by Coindesk.

According to his information, the corresponding announcement was made in an e-mail, which was received by investors from Japan on Wednesday. It says that they will not be able to use the services of the exchange to exchange cryptocurrency since July 2.

In response to a request from CoinDesk, the Huobi Pro exchange confirmed this information, but did not specify how the procedure for the withdrawal of assets of Japanese traders would be organized.

Huobi Pro's decision to leave Japan is due to the fact that the company is not registered with the Financial Services Agency, which since the beginning of the year has significantly strengthened control over local sites for the exchange of cryptocurrencies. Whether the company received any notifications from the regulator is not known.

Earlier this year, Huobi Pro announced that it had entered into an agreement with SBI Virtual Currency, a licensed exchange unit of the Japanese financial conglomerate SBI Holdings. It was planned that both companies would open a joint exchange in Japan, but in March SBI Virtual Currency announced a break in relations.

According to the Alexa portal, about 13% of visitors to Huobi Pro live in Japan.

Huobi to Launch Zero Fee Trading App

It features such fiat currencies as the US dollar, Vietnamese dong, Malaysian ringgit, Hong Kong dollar, and Chinese yuan
11 March 2020   381

Huobi Exchange on Tuesday unveiled its new mobile application for uncommissioned cryptocurrency trading.

Huobi Lite is available for Android and iOS devices. It features several fiat currencies, including the US dollar, Vietnamese dong, Malaysian ringgit, Hong Kong dollar, and Chinese yuan. To replenish the account, several payment methods are offered, including credit cards, the company says. According to Decrypt, Huobi Lite's main target group is traders in Southeast Asia.

Of the digital assets, Bitcoin, Ethereum, USDT, HT, EOS, Bitcoin Cash, XRP, Litecoin and HUSD are supported. In the future, Huobi promises to expand this list.

According to the exchange, Huobi Lite does not require a long identification, and "a user can buy his first bitcoin in less than 5 minutes." They promise not to request any documents from customers if their trading volume does not exceed $ 1,000 per day. In addition to buying cryptocurrencies, the application can be used to store and manage your portfolio.

The Huobi Lite commercial model is based on commissions, but they will not be charged to users, but to brokers and market makers selling cryptocurrency through the application.